Many foreign-owned banks that operate in the UK have to be authorised by us, and money deposited with them will be covered by the FSCS.However, a bank based in the European Economic Area (EEA) can offer certain products or services in the UK and other EEA countries while being authorised in their home country. The EEA includes the EU states, plus Iceland, Norway and Liechtenstein.If you deposit money with an EEA bank it will be covered by the compensation scheme of the bank’s home country rather than the FSCS. This is up to a limit of €100,000 per person in EU countries.The banking and savings brands (link is external) table does not include banks authorised abroad. Check the Register to see if a bank is authorised in the EEA (it will say ‘EEA authorised’) and to find out if other brands come under the same authorisation – click on ‘names’ for the list.
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